Bitwise has filed an amended registration statement for its proposed spot Hyperliquid ETF, finalizing key details that typically signal a product launch is approaching.
The updated filing, submitted to the U.S. Securities and Exchange Commission (SEC) on December 15, 2025, confirms both the ticker symbol and the management fee.
Final Amendment Signals Near-Term Launch
According to the amended filing, the ETF is expected to trade on NYSE Arca under the ticker $BHYP. Bitwise also disclosed a 0.67% annual management fee, equivalent to 67 basis points, bringing clarity to the product’s cost structure ahead of a potential approval.
The amendment also added an “8(a)” related clause, a procedural step that typically appears in the final stages of the SEC review process. Market participants often view the inclusion of finalized fees, ticker symbols, and technical clauses as strong indications that regulatory approval may be imminent.
Institutional Implications for Hyperliquid
The proposed ETF would provide regulated, spot-based exposure to Hyperliquid, a high-performance Layer 1 blockchain that also operates a decentralized perpetual futures exchange. A spot ETF structure is widely seen as a gateway for broader institutional participation, particularly from investors restricted from holding tokens directly.
If approved, the ETF could channel new capital into the Hyperliquid ecosystem, increasing visibility and accessibility among traditional asset managers.
HYPE Token Under Pressure Ahead of Filing
Despite the positive regulatory signal, Hyperliquid’s native token HYPE has faced recent selling pressure. At the time referenced in the filing context, HYPE was trading around $29.27, down approximately 1.7% over the past 24 hours.
The timing of the amendment follows Bitwise’s recent spot ETF launches tied to Solana and XRP, both of which have seen sustained institutional inflows after approval. Those precedents have strengthened expectations that the Hyperliquid product could follow a similar trajectory if cleared by regulators.
Market Outlook
Analysts generally interpret the finalization of a ticker symbol and management fee as one of the last steps before an ETF launch. With the amended filing now complete, expectations are building that SEC approval and the debut of the $BHYP ETF could be close, potentially marking another expansion of single-asset crypto ETFs in U.S. markets.
